S&P 500 drops on weak hiring data

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Source: Dukascopy Bank
S&P 500 index dropped sharply on Friday after data showed that hiring slowed rapidly in April. The report confirmed investor concerns that the US economic recovery is struggling. S&P 500 fell 1.61% or 22.47 points and closed at 1,369.10, marking the biggest weekly drop for this year. Southwestern Energy tumbled 7% and Peabody Energy sank 3.5% as crude prices in commodity markets kept fading. Aon Corp lost 5.8% on news its net profit for the 1st quarter slipped 3%. 

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Mon, 07 May 2012 06:39:05 GMT

Australia's construction index dropped in April

Australia's construction industry continued contracting in April, according to Australian Industry Group. The country's construction index declined by 1.3 points last month to 34.9, indicating a spread of the global slowdown. Apartment construction was the largest component to decline in the index while house and commercial building also weighed on the index.

Mon, 07 May 2012 06:28:02 GMT

IMF may discontinue Greek bailout funding

The IMF has warned Greece to halt Greek bailout funding after the preliminary results of the Greece parliamentary elections. The IMF announced that in case the country does not meet agreed austerity measures, the bailout funding will be suspended starting from June, according to the official IMF statement.

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